Move Logistics Group Limited · NZX:MOV
Move Logistics — TIL Logistics Group — FY2018 Earnings Presentation
19 slides from Move Logistics's earnings presentation, August 2018
Slide 1: TIL Logistics Group Limited FY18 Results Presentation
1 TIL LOGISTICS GROUP LIMITED FY18 RESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2018
Slide 2: About TIL Logistics Group
• One of New Zealand’s largest domestic freight and logistics platforms • Nationwide network of branches, depots and warehouses with 60 locations and over 150,000m2 of warehousing space • Dedicated team of over 1,700 employees and contractors • Fleet of some 900 trucks, 1,110 trailers, 310 forklifts
Slide 3: FY18 Key Events
FY18 KEY EVENTS Busy year with highlights being the successful reverse listing transaction and expansion of Logistics division • Significantly expanded Warehousing and Logistics offer - successful integration of acquired businesses • Implemented a new Warehouse Management System throughout MOVE site
Slide 4: Full Year Results Summary
Total Income $ 331.5 million EBITDA $6.9 million ADJUSTED EBITDA $26.2 million FULL YEAR excluding non-trading costs* NLAT $(12.2) million RESULTS Attributable to security holders SUMMARY ADJUSTED NPAT $7.1 million excluding non-trading costs* Dividend 2.3cps • Non-trading costs of $6.5m associated
Slide 5: FY18 Results Snapshot
FY18 RESULTS SNAPSHOT REPORTED LISTING PROFILE PFI $Millions FY18 FY17 % Change FY2018F FY2018F Pro Forma Statutory Sales Revenue 325.6 235.3 38% Total Income 331.5 239.3 39% 328.8 327.8 EBITDA 6.9 17.6 (60.1)% 9.5 Non-trading costs 19.3 - Adjusted EBITDA excluding non-trading costs 26.2 17.6 49% 28
Slide 6: Year on Year Uplift
YEAR ON YEAR UPLIFT On an adjusted basis excluding non-trading costs Sales revenue $325.6m, up 38% YoY Total Income EBITDA 400 331.5 30 26.2 Strong sales in 1H18 carried through into 300 239.3 2H18 200 20 17.6 100 Benefit of new business acquisitions and 10 6.9 expanded Logistics offer accounted for
Slide 7: FY17 to FY18 EBITDA Bridge
FY17: FY18 EBITDA BRIDGE Excluding non-trading costs, FY18 Adjusted EBITDA was up 49% on FY17 to $26.2m • Benefit from expansion of Logistics segment - NZL Group and Move Logistics acquired in May and June 2017 respectively • Asset Management benefited from inclusion of MOVE’s Southern Fleet Lease c
Slide 8: PFI to Reported EBITDA and NPAT
PFI TO REPORTED EBITDA AND NPAT TIL Logistics Group FY18 Results Presentation 8
Slide 9: Capital Management
CAPITAL MANAGEMENT TOTAL DEBT • Focus on debt reduction: Asset sales 80 73.5 75.5 to repay debt 70 63.8 60 50 $Millions 40 30 20 10 0 Actual FY18 Proforma FY18 Fcast Proforma FY19 Fcast See page 56 of the Listing Profile for an explanation of pro forma adjustments for debt TIL Logistics Group FY18 R
Slide 10: Segment Revenue and Earnings
SEGMENT REVENUE AND EARNINGS 400 REVENUE FY18 REVENUE Freighting: Solid performance from existing 300 businesses. Initiatives in place to drive sales growth $ Millions 200 100 Logistics: Primarily comprises NZL Group and Move Logistics, acquired in late FY17, both 0 FY17 FY18 of which are performing
Slide 11: Freighting
FREIGHTING Revenue $220.8m (68% of group revenue) Adjusted EBITDA $7.2m TIL Logistics is one of the largest freight transport companies in New Zealand and has a nationwide network with regional strength and speciality services • Grew the client base and welcomed a number of new clients • Adverse cli
Slide 12: Logistics
LOGISTICS Revenue $97.3m (30% of group revenue) Adjusted EBITDA $7.1m TIL Logistics’ expanded warehousing offering provides tangible opportunities for increased customer engagement and growth • Successfully integrated NZL Group and MOVE Logistics into the Group • Signed new customer contracts includ
Slide 13: Asset Management
ASSET MANAGEMENT Adjusted EBITDA $11.4m Comprises the majority of the Group’s trucks and trailers. Revenue generated from leasing of assets to TIL Logistics Group businesses • Increased assets and earnings reflecting expanded TIL Logistics Group portfolio of businesses • MOVE’s Southern Fleet Lease
Slide 14: Outlook
“There is growing demand for high quality, end to end freight OUTLOOK and logistics supply chain solutions, and TIL has the reputation, expertise and capability to take advantage of this.” Activity levels across the industry Trevor Janes, Chairman remain high and long term outlook is positive Additi
Slide 15: Growth Drivers and Opportunities
INCREASE THE VOLUME OF FREIGHT TRANSPORTED BY TIL: • Selectively target new customers that align with TIL Logistics’ platform • Capture a greater proportion of existing customers’ supply chains IMPROVE UTILISATION LEVELS OF EXISTING AND NEW NETWORKS: • Increase volumes on existing platform with mini
Slide 16: Strong Board and Management Team
STRONG BOARD AND MANAGEMENT TEAM BOARD EXECUTIVE LEADERSHIP • Trevor Janes, Independent Chair • Alan Pearson, CEO as at 19 March 2018 Alan has over 35 years commercial experience in both • Greg Kern, Non-executive Director public and private companies, including ten years as Managing Director of Hal
Slide 17: Contact
CONTACT Greg Whitham TIL Logistics Group Limited Chief Financial Officer Tel: 06 755 9990 Email: greg.whitham @til.kiwi ap
Slide 18: Glossary
GLOSSARY • Pro forma historical financial information has been sourced from audited and unaudited financial statements and management reports that are available on the TIL Logistics Website under Investor Centre/TIL Transaction. Details of consolidation and other pro forma adjustments can be found i
Slide 19: Disclaimer
DISCLAIMER This presentation has been prepared by TIL Logistics Group Limited (“TLL”). The information in this presentation is of a general nature only. It is not a complete description of TLL. This presentation is not a recommendation or offer of financial products for subscription, purchase or sal